Xerox Holdings Co. (NYSE:XRX) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly increased its holdings in Xerox Holdings Co. by 348.8% in the first quarter, owning 953,827 shares valued at approximately $4.6 million.
• Other institutional investors also made notable changes, with PNC Financial Services boosting its stake by 110.8% and GAMMA Investing LLC increasing its position by a remarkable 569.7% during the same period.
• Xerox recently declared a quarterly dividend of $0.025, resulting in an annualized yield of 2.4%, despite the company's recent financial report showing a missed EPS estimate with a loss of $0.64.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 348.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 953,827 shares of the information technology services provider's stock after purchasing an additional 741,297 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.76% of Xerox worth $4,607,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in shares of Xerox by 110.8% during the first quarter. PNC Financial Services Group Inc. now owns 5,539 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 2,911 shares in the last quarter. TD Waterhouse Canada Inc. purchased a new stake in shares of Xerox during the fourth quarter valued at $51,000. Allworth Financial LP grew its holdings in shares of Xerox by 137.7% during the first quarter. Allworth Financial LP now owns 6,014 shares of the information technology services provider's stock valued at $29,000 after buying an additional 3,484 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Xerox by 331.8% during the first quarter. Larson Financial Group LLC now owns 6,507 shares of the information technology services provider's stock valued at $31,000 after buying an additional 5,000 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Xerox by 569.7% during the first quarter. GAMMA Investing LLC now owns 7,045 shares of the information technology services provider's stock valued at $34,000 after buying an additional 5,993 shares during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Xerox

In other Xerox news, Director A. Scott Letier purchased 29,600 shares of the stock in a transaction on Friday, August 1st. The shares were bought at an average cost of $3.95 per share, with a total value of $116,920.00. Following the completion of the acquisition, the director owned 58,984 shares in the company, valued at $232,986.80. This trade represents a 100.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO John G. Bruno purchased 25,000 shares of the stock in a transaction on Friday, May 23rd. The stock was acquired at an average cost of $4.38 per share, for a total transaction of $109,500.00. Following the completion of the acquisition, the chief operating officer owned 259,775 shares of the company's stock, valued at $1,137,814.50. The trade was a 10.65% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 117,079 shares of company stock valued at $502,045 in the last three months. Company insiders own 1.50% of the company's stock.

Xerox Stock Performance

Shares of XRX traded down $0.12 during trading hours on Friday, reaching $4.02. 3,483,819 shares of the company traded hands, compared to its average volume of 4,060,135. The stock has a market capitalization of $505.83 million, a P/E ratio of -0.37 and a beta of 1.79. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. Xerox Holdings Co. has a 12-month low of $3.44 and a 12-month high of $11.42. The business has a fifty day moving average price of $5.13 and a 200-day moving average price of $5.48.

Xerox (NYSE:XRX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The information technology services provider reported ($0.64) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.71). Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. Xerox's revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 EPS. Equities analysts anticipate that Xerox Holdings Co. will post 1.07 EPS for the current fiscal year.

Xerox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Xerox's dividend payout ratio is presently -0.87%.

Xerox Profile

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.